Modine Manufacturing (NYSE:MOD) Hits New 12-Month High – Should You Buy?

Modine Manufacturing (NYSE:MOD)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $142.11 and last traded at $141.49, with a volume of 386280 shares trading hands. The stock had previously closed at $133.65.

Analysts Set New Price Targets

Several research firms have recently weighed in on MOD. B. Riley increased their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer raised their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Stock Performance

The company has a market cap of $7.52 billion, a P/E ratio of 46.96, a PEG ratio of 1.08 and a beta of 2.25. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $128.14 and a 200-day moving average of $112.29.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. Modine Manufacturing’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently added to or reduced their stakes in MOD. Acadian Asset Management LLC bought a new position in shares of Modine Manufacturing in the first quarter valued at about $37,000. Opal Wealth Advisors LLC acquired a new position in shares of Modine Manufacturing in the second quarter worth approximately $51,000. West Oak Capital LLC increased its stake in Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Modine Manufacturing during the second quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Modine Manufacturing during the second quarter valued at approximately $68,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.